Caterham F1 Team has confirmed a further re-shuffle in its management structure as the new ownership continues to make changes at the British team.

Following the sale of the outfit by Tony Fernandes to a consortium made up of Swiss and Middle Eastern investors, the team’s structure has been changed drastically. Former F1 driver Christijan Albers is the man in charge, but has now moved from CEO to team principal.

Yesterday, it was reported that a number of staff cuts had taken place, and the team confirmed this news today, although it did not say how many workers had been let go.

Today’s statement reads as follows:

“Following the first steps of restructuring, Caterham F1 Team has confirmed today that a number of new appointments have been made.

“Christijan Albers is now Team Principal, supported by Manfredi Ravetto, General Manager and Deputy Team Principal.

“Simon Shinkins has also joined the team as COO, as well as Miodrag Kotur who is now Team Manager. Michael Willmer is the team’s new Director of Legal Affairs and Gianluca Pisanello is promoted to Head of Trackside Engineering.

“Finally, John Iley is now the team’s Technical Director, leading the work being done to improve the 2014 car and the 2015 new car project.

“The team has also confirmed that it has parted company with a number of employees. This is a necessary step taken by the new owners of Caterham F1 Team whose priority is the future of the team. No further comment will be made at this time.”

The new managers at Caterham has a good deal of F1 experience. Ravetto used to work with the now defunct HRT squad, and has also spent some time in GP2. Simon Shinkins used to work for Force India, whilst Miodrag Kotur is formerly of Ferrari.

This news also follows Alexander Rossi’s move away from the team. The American GP2 driver is no longer part of the team’s junior programme, nor the now unrelated Caterham Racing team. He will race for Campos this weekend.